Breaking: Forum Energy Technologies Inc Just Recorded A Sigfniciant Increase

Breaking: Forum Energy Technologies Inc Just Recorded A Sigfniciant Increase

The stock of Forum Energy Technologies Inc (NYSE:FET) is a huge mover today! About 571,953 shares traded hands. Forum Energy Technologies Inc (NYSE:FET) has risen 68.88% since February 29, 2016 and is uptrending. It has outperformed by 56.66% the S&P500.
The move comes after 5 months positive chart setup for the $1.82 billion company. It was reported on Oct, 3 by Barchart.com. We have $31.64 PT which if reached, will make NYSE:FET worth $1.07 billion more.

Analysts await Forum Energy Technologies Inc (NYSE:FET) to report earnings on October, 27. They expect $-0.19 earnings per share, down 371.43% or $0.26 from last year’s $0.07 per share. After $-0.19 actual earnings per share reported by Forum Energy Technologies Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Forum Energy Technologies Inc (NYSE:FET) Ratings Coverage

Out of 16 analysts covering Forum Energy Technologies (NYSE:FET), 5 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 31% are positive. Forum Energy Technologies has been the topic of 40 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The company was upgraded on Friday, August 28 by Zacks. KLR Group initiated the shares of FET in a report on Monday, December 14 with “Buy” rating. The stock of Forum Energy Technologies Inc (NYSE:FET) earned “Neutral” rating by Citigroup on Friday, September 2. The rating was upgraded by Credit Suisse to “Outperform” on Monday, July 18. Morgan Stanley maintained Forum Energy Technologies Inc (NYSE:FET) on Tuesday, April 19 with “Equal-Weight” rating. The rating was maintained by Cowen & Co with “Outperform” on Tuesday, February 16. The company was maintained on Monday, July 27 by Cowen & Co. On Monday, November 30 the stock rating was upgraded by Guggenheim to “Buy”. Gabelli initiated Forum Energy Technologies Inc (NYSE:FET) on Thursday, September 15 with “Hold” rating. The rating was downgraded by Citigroup to “Neutral” on Friday, March 18.

According to Zacks Investment Research, “Forum Energy Technologies is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs and manufactures products, and engages in aftermarket services, parts supply and related services that complement the Company’s product offering.”

Insitutional Activity: The institutional sentiment decreased to 0.98 in Q2 2016. Its down 0.24, from 1.22 in 2016Q1. The ratio worsened, as 17 funds sold all Forum Energy Technologies Inc shares owned while 47 reduced positions. 23 funds bought stakes while 40 increased positions. They now own 90.83 million shares or 0.57% less from 91.35 million shares in 2016Q1.
Wellington Management Group Ltd Liability Partnership holds 0.01% of its portfolio in Forum Energy Technologies Inc (NYSE:FET) for 1.59 million shares. First Mercantile accumulated 18,070 shares or 0.04% of the stock. Ladenburg Thalmann Financial accumulated 0% or 1,169 shares. Virginia Retirement Et Al last reported 0% of its portfolio in the stock. California State Teachers Retirement System holds 0% or 125,932 shares in its portfolio. Millennium Mngmt Ltd accumulated 0.03% or 820,487 shares. Sentinel Asset Inc has invested 0.17% of its portfolio in Forum Energy Technologies Inc (NYSE:FET). Kcg last reported 13,689 shares in the company. Moreover, Barclays Public Limited Liability Company has 0% invested in Forum Energy Technologies Inc (NYSE:FET) for 23,917 shares. Johnson Fincl Group Inc Inc Inc last reported 0% of its portfolio in the stock. Fmr Limited Co has invested 0% of its portfolio in Forum Energy Technologies Inc (NYSE:FET). The Texas-based Teacher Retirement Sys Of Texas has invested 0% in Forum Energy Technologies Inc (NYSE:FET). Moreover, Walleye Trading Lc has 0% invested in Forum Energy Technologies Inc (NYSE:FET) for 659 shares. Tiaa Cref Investment Management Ltd Company holds 187,340 shares or 0% of its portfolio. The Texas-based Kanaly Trust Co has invested 0.06% in Forum Energy Technologies Inc (NYSE:FET).

More recent Forum Energy Technologies Inc (NYSE:FET) news were published by: Businesswire.com which released: “Forum Energy Technologies Announces Acquisition of a Wholesale Completion …” on April 29, 2016. Also Businesswire.com published the news titled: “Forum Energy Technologies Receives Order for Three Remotely Operated Vehicles” on July 10, 2016. Businesswire.com‘s news article titled: “Forum Energy Technologies and Offshore Technology Development Announce Joint …” with publication date: May 04, 2016 was also an interesting one.

FET Company Profile

Forum Energy Technologies, Inc., incorporated on May 10, 2005, is an oilfield products company. The Firm designs, makes and distributes products and engages in aftermarket services, parts supply and related services. The Firm operates through two divisions: Drilling & Subsea, and Production & Infrastructure. The Company’s product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas. The Company’s capital products are targeted at drilling rig equipment for rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells; pressure pumping equipment, and downstream capital projects. The Company’s engineered systems are components used on drilling rigs for completions or in the course of subsea operations, while its consumable products are used to maintain activities at well sites in the well construction process, within the supporting infrastructure and at processing centers and refineries. The Firm seeks to design, manufacture and supply reliable products for its diverse clients base, which includes, among others, gas and oil operators, land and offshore drilling contractors, oilfield service companies, subsea construction and service companies, and pipeline and refinery operators. The Firm serves the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry.

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